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Prepare appropriate journal entries and post to the ledger

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Question - Bella's Bracelets uses a job order costing system. On March 1, 2017 Selena Gomez ordered a gold bracelet:

3_1 Factory orders 20 ounces of gold from the warehouse. The gold cost $600 per ounce.

3_2/3_8 The factory works on the bracelet. Direct labor charged 30 hours at $70 per hour.

Manufacturing overhead is charged to jobs based on direct labor hours. The predetermined overhead rate is $30 per direct labor hours.

3_9 The bracelet is completed and sent to the storeroom.

3_10 The bracelet is delivered to Selena Gomez and she is billed $20,000.

Required: Prepare the appropriate journal entries and post them to the ledger.

Reference no: EM131808466

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